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OMAHA, Neb. (AP) — The Latest on investor Warren Buffett’s comments on a variety of topics (all times local):
5:45 a.m.
Billionaire Warren Buffett says his company bought more than $9 billion of airline stocks because he believes they are operating more efficiently than they used to.
Buffett has long recommended that investors avoid airline investments because they required significant capital and delivered poor returns.
After all the bankruptcies and consolidation in the industry, Buffett says the airlines are performing better and generally flying with their planes at least 80 percent full.
Buffett says airlines are “a business you can always mess up.” But Buffett says he thinks airlines are performing better after “a bad century.”
Berkshire Hathaway holds sizeable stakes in American Airlines, Delta Air Lines, United Continental and Southwest.
At the end of 2016, Berkshire held 45.5 million shares of American, 60 million shares of Delta, 43.2 million shares of Southwest and nearly 29 million shares of United Continental.
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5:25 a.m.
Warren Buffett says he’s investing heavily in Apple, believing that once consumers begin using the company’s products they aren’t likely to stop.
The billionaire investor said on CNBC Monday that Berkshire Hathaway now holds about 133 million shares of Apple after buying yet more of the company’s stock this year. That’s more than double stake that Berkshire revealed earlier this month.
Buffett’s aggressive buying spree at Apple caught many off guard because he has historically steered clear of technology companies. But Buffett says when he looks at Apple he sees a maker of consumer products, not technology.
While Buffett says Apple’s iPhones are great, he still carries a basic flip phone.
Buffett appeared on CNBC after releasing his annual letter to Berkshire Hathaway shareholders on Saturday.
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